Business: Good week - Bad week

Good week

© GKN

GKN At nearly £1.5 billion ($2.24 billion), 2009 aerospace sales were up 48% and trading profit soared 61% to £169 million, thanks to £25 million-worth of organic sales growth and a £330 million revenue and £40 million profit boost from the ex-Airbus Filton wing components plant bought in January 2009. This year could see civil airframers cut production, but the US defence market look solid and first flights of Airbus A400M, Boeing 787 and 747-8 bode well.

 

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Bad week

© Boeing

MALEV The Hungarian government has had to renationalise the loss-making flag carrier just three years after privatisation. The 25.2 billion forint ($127 million) cash and debt conversion deal to acquire a 95% share from privatisation buyer AirBridge also sets out its "intention to prepare an exit" by selling a majority stake following a Brussels-approved "intensive" restructuring including employee layoffs, network reorganisation and renegotiation of supplier contracts.

 

 

Source: Flight International